Eaton Vance Enhanced Equity Income Fund Report of Earnings

News provided by

Eaton Vance Management

Mar 03, 2011, 01:28 ET

BOSTON, March 3, 2011 /PRNewswire/ -- Eaton Vance Enhanced Equity Income Fund (NYSE: EOI), a diversified closed-end investment company, today announced the earnings of the Fund for the three months ended December 31, 2010.  The Fund's fiscal year ends on September 30, 2011.

For the three months ended December 31, 2010, the Fund had net investment income of $813,813 ($0.020 per common share).  In comparison, for the three months ended December 31, 2009, the Fund had net investment income of $978,089 ($0.024 per common share).  

Net realized and unrealized gains for the three months ended December 31, 2010 were $35,826,674 ($0.897 per common share).  In comparison, net realized and unrealized gains for the three months ended December 31, 2009 were $27,149,194 ($0.682 per common share).

On December 31, 2010, net assets of the Fund were $538,017,407.  The net asset value per common share on December 31, 2010 was $13.46 based on 39,970,049 common shares outstanding.  In comparison, on December 31, 2009, net assets of the Fund were $547,685,444.  The net asset value per common share on December 31, 2009 was $13.75 based on 39,831,055 common shares outstanding.

The Fund is managed by Eaton Vance Management, a subsidiary of Eaton Vance Corp. (NYSE: EV), based in Boston, one of the oldest investment management firms in the United States, with a history dating back to 1924. Eaton Vance and its affiliates managed $191.7 billion in assets as of January 31, 2011, offering individuals and institutions a broad array of investment strategies and wealth management solutions. The Company's long record of providing exemplary service and attractive returns through a variety of market conditions has made Eaton Vance the investment manager of choice for many of today's most discerning investors. For more information about Eaton Vance, visit www.eatonvance.com.

EATON VANCE ENHANCED EQUITY INCOME FUND

SUMMARY OF RESULTS OF OPERATIONS

(in thousands, except per share amounts)















Three Months Ended






December 31,






2010

2009

Gross investment income


$                                     2,321

$                                     2,557

Operating expenses



(1,507)

(1,579)

Net investment income


$                                        814

$                                        978

Net realized and unrealized gains (losses)




 on investments



$                                   35,827

$                                   27,149

Net increase (decrease) in net assets




 from operations


$                                   36,641

$                                   28,127









Earnings per Common Share Outstanding




Gross investment income


$                                     0.058

$                                     0.064

Operating expenses



(0.038)

(0.040)

Net investment income




$                                     0.020

$                                     0.024

Net realized and unrealized gains (losses)




 on investments



$                                     0.897

$                                     0.682

Net increase (decrease) in net assets




 from operations


$                                     0.917

$                                     0.706


















Net Asset Value at December 31 (Common Shares)




Net assets





$                                 538,017

$                                 547,685

Shares outstanding




39,970

39,831

Net asset value per share outstanding

$                                     13.46

$                                     13.75









Market Value Summary (Common Shares)





Market price on NYSE at December 31

$                                     12.64

$                                     14.19

High market price (period ended December 31)

$                                     13.47

$                                     14.44

Low market price (period ended December 31)

$                                     12.34

$                                     13.09

SOURCE Eaton Vance Management

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